Commonwealth Bank of Australia (ASX: CBA) shares have proven to be one of the better ASX 200 blue chips to have owned in recent times. While the S&P/ASX 200 Index (ASX: XJO) is still down around 1.65% year to date in 2022 so far, the CBA share price has put on a market-beating 3.8%. That includes today's gain of 0.22% to $106.37.
Over the past 12 months, CBA shares are also up a very pleasing 24.6%, again comparing favourably to the ASX 200's far more modest 10.8%.
But now that Commonwealth Bank shares have got those gains under the belt, and are now only a few dollars off the ASX banking giant's all-time high of $110.19 a share, could it be time to reconsider owning CBA? Or are CBA shares still a buy today? Let's see what some ASX investing experts reckon.
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Is the CBA share price a buy or a sell for April 2022?
Citi is an ASX broker that, perhaps unfortunately for CBA investors, lies in the latter camp. Earlier this week, we covered how Citi retained a sell rating on CBA shares. This came with a 12-month share price target of $90.75. If that turned out to be accurate, it would result in the CBA share price losing close to 15% over the next 12 months.
Citi reckons CBA's chances of continuing to outperform the other ASX big four banks into the future are remote due to the lack of potential growth opportunities. It also sees the current CBA share price as a little overvalued, especially compared to the other big four ASX banks.
But Citi isn't the only broker who doesn't see much in the current CBA share price. Earlier this month, we also looked at fellow ASX broker Morgan Stanley's views on CBA. Like Citi, Morgan Stanley is sell rated on CBA shares. It has a not too dissimilar 12-month share price target of $92 for the bank. It also sees the CBA share price as overvalued right now.
So the view is widespread among the ASX broker community on CBA, it seems. Perhaps not what investors are looking to here right now. But only time will tell if buying or selling CBA shares today will turn out to be a good idea.
At the current CBA share price, this ASX 200 bank has a market capitalisation of $181.1 billion, with a dividend yield of 3.52%.
